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Rail News: Rail Industry Trends

BCR Group opting out of marine-managing business


BCR Group of Cos. soon might be only in the railroading business. The company March 28 announced plans to sell BCR Marine — which includes Canadian Stevedoring, Casco Terminals and Vancouver Wharves — to concentrate on its core operation, 1,446-mile regional BC Rail Ltd.
BCR Group — a commercial Crown corporation, which is owned by the province of British Columbia, and operates BC Rail and BCR Marine — plans soon to hire a financial advisor to conduct and manage the transaction under BCR Group President and Chief Executive Officer Bob Phillips.
"We believe BCR Marine has an exciting future but requires an expanded
capital base to achieve its growth objectives," said BCR Group Chairman John McLernon in a prepared statement.

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More News from 4/2/2002